Aerospace & Defence company ideaForge Technology announced Q4FY25 results Revenue: Rs 203 million compared to Rs 1,023 million during Q4FY24. Gross Profit: Rs 73 million compared to Rs 440 million during Q4FY24. Gross Profit margin: 35.9% for Q4FY25. EBITDA: Rs -174.1 million compared to Rs 202.5 million during Q4FY24. EBITDA margin: -85.7% for Q4FY25. PAT: Rs -257.0million compared to Rs 103.3 million during Q4FY24. PAT margin: -126.5% for Q4FY25. Order Book Position: Rs 136 crore as on 31.03.2025. Ankit Mehta, CEO, said: “FY25 saw a substantial slowdown for the broader drone industry in India, owing to the general elections in the first part and then the slow progress towards procurement initiatives, despite the latent demand. The industry started to regain momentum at the end of the year with the new emergency procurement cycle for CICT* operations going into tendering phase in Q4, along with trials of many other civil programs as well towards the end of the same quarter. And thus, while we did not see closure of opportunities to orderbook in Q4, we now see their healthy progression to our L1 pipeline. Our efforts to diversify our revenue base got bolstered at the AeroIndia 2025, where we unveiled the concepts of two new categories of drones, namely, our ZOLT platform for Tactical and YETI for Logistics, unlocking new opportunities and partnerships, such as our partnership with Resonia Limited (Sterlite Group) for tower installation logistics. Our strategic investment in US-based Vantage Robotics has augmented platforms as small as nano drones (<250 g) to our portfolio. The year also marked our transition from a drone manufacturer to a drone solution provider delivering not just best-in-class drones to our customers, but also actionable intelligence through our developments, such as FLYGHT CLOUD for cloud data analytics and FLYGHT DOCKS for consuming Drone-as-a-Service (DaaS). With the launch of NETRA 5 and SWITCH V2, we have demonstrated our ability to build capabilities that can future-proof our forces with unmatched resilience, performance, modularity, and AI. With the augmentation of new categories and greater focus on the global markets, we are seeing increasing momentum towards international opportunities and partnerships. We intend to substantially increase the market opportunity for Indian drones globally and firmly establish them as a default part of the security, safety, and governance infrastructure of any country, city, or enterprise.” Result PDF
Aerospace & Defence company ideaForge Technology announced Q3FY25 results Revenues: Rs 176.1 million compared to Rs 909.0 million during Q3FY24. Gross Profit: Rs 81.0 million compared to Rs 488.6 million during Q3FY24. Gross Profit margin: 46.0% for Q3FY25. EBITDA: Rs -125.8 million compared to Rs 261.9 million during Q3FY24. EBITDA margin: -71.4% for Q3FY25. PAT: Rs -240.2 million compared to Rs 148.0 million during Q3FY24. PAT margin: -136.4% for Q3FY25. Ankit Mehta, CEO said: “Conversion of opportunities to orderbook has been muted thus far in this financial year, largely attributable to elections and low government spending in this timeframe. However, the third quarter of this year has started to bring everything together, be it rapid progress in technology development, rekindling the latent demand from customers, and recognition of our efforts. Ranking 3rd globally as a dual-use drone manufacturer in DII’s Global Drone Review 2024 and our SWITCH UAV becoming the first and only small UAV certified as ‘Fit for Indian Military Use’ by DGQA exemplify our commitment to innovation and excellence. We opened a new application in the form of coastal surveillance with our SWITCH UAV being deployed for a coastal management solution in Maharashtra. In order to unlock the use of geospatial data in private enterprises, we have become part of Operation DRONAGIRI, a pilot project by the government of India under the National Geospatial Policy (NGP), 2022. Learnings from our successful Early Adopter Program initiative in the United States helped us conceptualize and also launch a new quadcopter platform (Q6 V3) in the United States. We are now excited to showcase our technology progress and vision at Aero India 2025.” Result PDF
Defence company ideaForge Technology announced Q2FY25 results Financial Highlights: Revenue from Operations: Rs 371.0 million, compared to Rs 237.3 million (Q2FY24). Gross Margin: Rs 91.2 million Margin 24.6%. Business Highlights: Obtained DGCA Type Certification for Q6 V2 UAV. Initiation of FLYGHT Franchise – Franchise Owned Franchise Operated (FOFO) model for DaaS business. 6 new patents filed, and 2 new patents granted. Next-generation technology demonstration to customers at high altitude during HIMTECH 2024. New Value-Added Resellers/Partners onboarded in the US. Upgraded to CRISIL BBB+/Stable corporate credit rating from CRISIL BBB/Stable. Ankit Mehta, CEO, ideaForge Technology, said: “The second quarter of the year for us has been a period of doubling down on our initiatives. Our long-term efforts of pushing indigenisation and elimination of the use of critical sub-systems from geographies of concern are fructifying, and customers are actively thinking of looking under the hood to ensure there are no vulnerabilities due to the wrong country of origin. We continue our efforts in the new technology and product development and are making substantial progress on this front with a few early field tests and demos already underway. We filed six new patents in this quarter and two of our patents were granted as well, taking our global portfolio to 78 patents. Our paid PoCs for Drone-as-a-Service (DaaS) even for enterprise customers are proving helpful in providing us invaluable insights to make it robust and effective. The initiation of the FLYGHT Franchise – a Franchise Owned Franchise Operated model for DaaS will help us scale up the DaaS business. On the international front, due to our increased presence in the US, we are also witnessing interest in our products and solutions from across the globe, and we are working diligently on these opportunities. There has been a shift in the timeline for progress in large opportunities due to the reduced pace of capex spending by the government, and we are tracking those opportunities closely. Our faith in the ability of drone technology to make a positive and meaningful impact is bolstered by the extensive use of drones during recent floods in Vijayawada and even in the US in Florida after Hurricane Milton. I am confident that in the coming times, drones will become ubiquitous for use in security, governance and disaster response, and ideaForge will continue to lead and push the boundaries of technology in this domain and drive its widespread adoption.” Result PDF